GENEVA—Alcon (SIX/NYSE:ALC), a global leader in eyecare, reported its financial results for the three and 12 months ending Dec. 31, 2023. For the fourth quarter of 2023, sales were $2.3 billion, an increase of 8 percent on a reported basis and 10 percent on a constant currency basis, as compared with the same quarter of the previous year. Sales for the full year 2023 were $9.4 billion, an increase of 8 percent on a reported basis and 10 percent on a constant currency basis, compared with the full year 2022.

David J. Endicott, Alcon's chief executive officer, said, "2023 was an excellent year for Alcon, and I'm proud of what our team accomplished. We delivered solid top-line growth in both franchises on the back of healthy markets. We also grew earnings and expanded margins, all while successfully completing our transformation program and advancing our product pipeline."

He said, "As we look forward into 2024, we are excited about completing development on several innovative products that will continue to support our customers and their patients. As a result, we expect to continue to outpace market growth, deliver operating leverage and create long-term shareholder value."

For the fourth quarter of 2023, Vision Care net sales, which include contact lenses and ocular health, were $980 million, an increase of 11 percent on a reported basis and 13 percent on a constant currency basis, versus the fourth quarter of 2022. Vision Care net sales included 2 percentage points of contribution from products acquired in 2022.

Contact lenses net sales were $579 million, an increase of 9 percent, driven by product innovation, including sphere and toric product launches, and price increases. Growth was partially offset by declines in legacy lenses and unfavorable currency impacts of 1 percent. Contact lenses net sales increased 10 percent constant currency.

Ocular health net sales were $401 million, an increase of 14 percent, primarily driven by the portfolio of eye drops, including acquired ophthalmic pharmaceutical products, price increases and recovery from supply chain challenges in contact lens care. Growth was partially offset by unfavorable currency impacts of 3 percent. Ocular health net sales increased 17 percent constant currency, including 4 percentage points from products acquired in 2022.

For the full year 2023, Vision Care net sales were $4.1 billion, an increase of 12 percent, including 4 percentage points from products acquired in 2022. Excluding unfavorable currency impacts of 2 percent, Vision Care net sales increased 14 percent constant currency. For the fourth quarter of 2023, surgical net sales, which include implantables, consumables and equipment/other, were $1.4 billion, an increase of 6 percent on a reported basis and 8 percent on a constant currency basis versus the fourth quarter of 2022.

Implantables net sales were $438 million, an increase of 1 percent, led by demand for advanced technology intraocular lenses in international markets, partially offset by unfavorable currency impacts of 4 percent. Implantables net sales increased 5 percent constant currency. Consumables net sales were $688 million, an increase of 8 percent, reflecting demand for cataract and vitreoretinal consumables, particularly in international markets, and price increases. Equipment/other net sales were $226 million, an increase of 11 percent, driven by demand for cataract and vitreoretinal equipment in international markets and higher service revenues.
 
For the full year 2023, surgical net sales were $5.3 billion, an increase of 5 percent. Excluding unfavorable currency impacts of 3 percent, surgical net sales increased 8 percent constant currency.

Fourth quarter 2023 operating income was $208 million, compared with $21 million in the prior year period. Operating income for the full year 2023 was $1.0 billion and operating margin was 11.1 percent, which increased 3.3 percentage points on a reported basis and 4.7 percentage points on a constant currency basis. The company ended 2023 with a cash position of $1.1 billion.

The company provided its 2024 outlook with net sales expected to be $9.9 billion to $10.1 billion, a 6 percent to 8 percent increase over the prior year.